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Cut spending, says IMF

    JOHANNESBURG

    The International Monetary Fund (IMF) has told Malawi that government spending had to be cut before the country could be considered for debt relief.

    The IMF said that a major concern was Malawi's poor record in controlling public spending and in preventing the waste of scarce resources. "Ill-conceived activities in the past and fraud are still costing the country dearly," Thomas Gibson, the head of the IMF's mission to Malawi said.

    Gibson said that any prospects for sustained growth would "remain slim" unless inflation was brought under control. Malawi's current debt is US $2.4 million.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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